IAS 34 · Workpapers (Step 4 of 5)
Workpaper assignment
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Content of an interim report: components, headings and subtotals, periods presented, year-to-date from the quarters and notes on significant events: Goodwill impairment loss
Third-quarter report of a listed group: goodwill impairment not reversed, fair value, notes, earnings per share, compliance statement and follow-up of IFRS 18
Section 1 of 7
Objective
Section brief
- What to document
- The engagement, its scope and the working mode chosen.
- Why
- A workpaper answers one precise question: framing it avoids off-topic work.
- How
- Read the objective and the assignment, then choose the mode (guided, semi-guided, professional).
- Expected result
- You know which question the workpaper must settle, and for which reporting date.
- Your role
- Preparer of the IAS 34 workpaper
- Level
- Expert
- Estimated time
- ≈ 60 min
- Progress
- 0 / 3 steps done (review excluded)
Context
Hélios Group (fictitious entity), a listed group that makes and installs solar equipment, closes its accounts on 31 December and publishes a condensed report at the end of each quarter. You prepare the report for the third quarter of 20X6 (period ended 30 September 20X6). It must explain the significant events since the last annual period, including a goodwill impairment loss recognised at 30 June and a transfer between levels of the fair value hierarchy, present earnings per share, carry an accurate compliance statement and say where the group stands with regard to IFRS 18.
Assignment
Significant events and key amount of goodwill
Purpose of the workpaper
Record the components of the report, the headings and subtotals of the latest annual statements and of the condensed statement, the periods and comparatives presented for each statement and the events of the period since the last annual period. Then check each point of the list, compute the year-to-date amount from the quarterly amounts and judge whether the events are significant for the notes. The facts are case data; each conclusion remains a supported judgment and no numeric threshold is imposed.
Questions of the file covered by this workpaper
- Among the impairment loss, the fair value transfer and the dispute settlement, which events are significant for the notes?
- Compute the carrying amount of goodwill after the impairment loss and the control difference with the draft.
Documents in the file
Open the documents to pick out the relevant information.